Polygon Processes $309 Million in Stablecoin Volumes Across Latin America in May

According to Sandeep Nailwal, co-founder and CEO of the Polygon Foundation, Polygon processed $309 million in stablecoin volumes across Latin America in May, surpassing all other blockchain networks in the region. Emerging market stablecoins including BRLA (Brazilian real-pegged) and COPM (Colombian peso-pegged) hit new monthly highs on the network, with BRLA reaching a market cap of $3.2 million.

A Visa-commissioned report issued in May found that total non-dollar stablecoin supply reached $1.2 billion globally, with monthly transfers recorded at $10 billion, indicating growing adoption of regional alternatives to dollar-pegged stablecoins in emerging markets.